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Uber, Yandex ride services can merge in Russia, regulator FAS rules

The firms aim to close the deal in January 2018, after the New Year holidays in Russia

Reuters  |  Moscow 

Uber, Yandex ride services can merge in Russia, regulator FAS rules

and Yandex's ride-sharing businesses can merge in Russia, anti-monopoly regulator FAS ruled on Friday but stipulated that the combined company not bar drivers from working for competitors.

and Yandex, often referred to as the "Google of Russia", announced plans in July to combine operations in 127 cities in Russia, Armenia, Azerbaijan, Belarus, Georgia and Kazakhstan.

San Francisco-based has agreed to invest $225 million while will contribute $100 million to a new joint company in which will own 59.3 per cent.

The two companies must allow their partners, drivers and passengers to work for or use competitors' services and fully inform users of the legal entity providing the service, the FAS said in a statement.

said consumers would be able to use both Taxi and apps, while their driver apps will be integrated, leading to shorter passenger wait times, increased driver utilisation rates, and higher service reliability.

The companies aim to close the deal in January 2018, after the New Year holidays in Russia, said in a statement.

Moscow-listed was up 3.47 per cent as of 1123 GMT.

It said the anti-monopoly regulator in Belarus had also approved the deal while a decision by the Kazakh regulator was pending.

First Published: Fri, November 24 2017. 17:25 IST
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